Apportionment of County school funds.
Memphis Charter, art. 81, § 1043
in effectSec. 1043. - Apportionment of County school funds.
In all counties of this State having a population of 350,000 or more inhabitants by the Federal Census of 1940, or any subsequent Federal Census, all school funds collected or received by the County officers or other authorities of said County, whether from State apportionment or apportionments made by the Federal Government, shall be divided between the County boards of education and any incorporated boards of education of any cities, towns, or taxing districts in such County, upon a per capita basis for each and every child in average daily attendance in the elementary and high schools in such counties, cities, towns or taxing districts.
In all counties of this State coming within the classification of this Act, all school funds collected or received by the County officers or other authorities of such counties, whether from County levy, poll taxes, circuit or County Court Clerk's collections, or escheats, or any other source of whatever nature, shall be divided between the County boards of education and any incorporated boards of education of any cities, towns, or taxing districts in such counties fifty percent (50%) to the County boards of education and fifty percent (50%) to such incorporated boards of education of cities, towns or taxing districts located in such counties, such division of school funds from local tax collection only to become effective July 1, 1955.
Should the County boards of education and the incorporated boards of education of such cities, towns or taxing districts desire by agreement to vary the above divisions and apportionments, full power and authority is hereby conferred upon said respective boards to contract with and bind each other as to the division or apportionment of the aforesaid school funds, or any of them, between said respective boards of education, and as to the manner and control of the disposition of said funds.
(Priv. Acts 1947, ch. 711; Priv. Acts 1955, ch. 351, § 1)
Source: City of Memphis, Code of Ordinances and Charter and Related Laws (Municode Library, library.municode.com)URL: https://library.municode.com/tn/memphis/codes/charter?nodeId=PTICHRELA_ART81CHBOEDMESC_DIVIIFIAF_S1043APCOSCFUFetched: 10/28/2026